Introduction: The Challenge of Innovation and Technology for Korea as a Newly Advanced Economy Revisited

Abstract

Six years ago, we started a project to look into the evolution of the Republic of Korea’s innovation and technology system that eventually led to the publication of a well-received book (Mahlich and Pascha 2007). In September 2009, we held a second conference at the Austrian Federal Economic Chamber in Vienna. By this time, it had become ever more obvious that Korea had indeed established itself internationally as a formidable newly advanced economy (NAE), having passed a “baptism of fire” by overcoming the global financial crisis with notable speed and effectiveness. The international community acknowledged this maturing of Korea by entrusting it with the chairing of the important G-20 meeting in late 2010.